Ebiquity has predicted a “slightly more positive” outlook for the promoting trade in 2024 next surveying Global Federation of Advertisers participants.
Within the corporate’s 2023 effects, important government Nick Waters stated that “confidence” used to be “starting to return”, including that during 2023, “market conditions were much more challenging”.
He stated: “It has been a difficult period for the advertising industry with many global brand owners planning for the short term rather than the long term and, in some cases, cutting budgets or deferring work as a result of prevailing market conditions and trends.”
However he added: “The outlook for the advertising industry appears slightly more positive for 2024 with our own survey of WFA members, as well as other independent studies, indicating some confidence starting to return.”
Within the corporate’s H1 record closing occasion, Ebiquity stated the marketplace used to be “risk averse with many global brand owners planning for the short term rather than the long term”.
Within the fresh effects, Rob Woodward, chair of Ebiquity, doubled unwell on Waters’ claims and added there are “signs that the advertising market is improving”.
In spite of a hard marketplace in 2023, Ebiquity’s income higher by means of 6.8% occasion on occasion, from £75.1 million ($93.7 million) to £80.2 million ($100 million).
Ebiquity’s US trade used to be the “star performer” in 2023, however the record additionally famous that the United Kingdom and Eire “showed a resilient performance in the domestic market”, month purchasers around the residue of Europe decreased “scope and fees” in This autumn as their very own companies got here below force.
In the United Kingdom and Eire, income jumped by means of 19%. The patch trailed at the back of North The usa, the place income higher by means of 33%.
Continental Europe and APAC each skilled diminished income, with the previous shedding by means of 11% and the closing by means of 10%.